Everything that happens in sports has some additional context when viewed from a sports betting perspective. From season-changing injuries to record-setting moments and so much more, the sports news cycle will constantly and significantly affect the sports betting industry.
Our betting buzz file, with contributions from David Purdum, Doug Greenberg and others, aims to provide fans a look at the sports betting stories that are driving the conversation.
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May 22: Record $14.1 million bet on table tennis in March with Colorado sportsbooks
Purdum: Approximately $14.1 million was bet on table tennis in March with Colorado sportsbooks, a record for the state and more than was risked on golf, MMA and motorsports combined during the month.
Betting on table tennis took off during the COVID-19 pandemic, when almost all sports leagues were halted. At the time, tournaments in Russia and Ukraine, some of which were streamed on sportsbooks’ apps, were among the only events bettors could find to wager — despite some suspicious circumstances. Table tennis attracted $6.6 million in bets in May 2020 with Colorado books, the most of any sport.
Table tennis has had staying power with bettors, seeing a significant spike in the amount of money wagered in recent months. The $14.1 million bet on table tennis in March bested the previous record of $12.6 million in February. BetMGM Sportsbook said betting interest in table tennis is not unique to Colorado and that it can top MMA and golf in other states.
“Table tennis takes place just about 24/7,” Alex Rella, senior trader for BetMGM told ESPN in an email. “The sheer volume and speed just outweighs what MMA and golf offer each weekend. Our customers also love the speed of each game. The quick turnaround is very appealing in comparison to major American sports where it can take hours for a game to end.”
The most popular table tennis with bettors currently are held in Poland, according to BetMGM.
May 21: Massachusetts Gaming Commission discusses limiting bettors
Purdum: The Massachusetts Gaming Commission held a public roundtable Tuesday to discuss the controversial bookmaking practice of limiting bettors.
Ten sportsbook operators in Massachusetts that were invited to the roundtable declined to participate, citing concerns over confidentiality of proprietary systems and risk management strategies, and instead requested a private session to discuss the topic.
According to MGC interim chair Jordan Maynard, the roundtable was prompted by complaints from consumers about having the amount they can wager reduced by the state’s sportsbooks. It included commentary from gambling industry consultants, an advocate for responsible gambling and a professional bettor. No new policies were enacted, but the committee continued further discussion of the topic.
In its written response to the MGC, Penn Entertainment, which operates ESPN BET, said it reserves the right to change betting and payout limits. “Penn may limit a patron for various reasons, including taking advantage of manipulating the sportsbook or abusing promotional play,” Samantha Haggerty, deputy chief compliance officer for Penn National, wrote.
In addition to Penn Entertainment, DraftKings, FanDuel, Fanatics, Caesars Sportsbook, Encore Boston Harbor and BetMGM were among the sportsbooks that declined to participate and provided written confirmation to the MGC. A spokesperson for DraftKings said in a statement that “any meaningful discussion on wagering limits would necessarily involve the disclosure of DraftKings’ confidential risk management practices and other commercially sensitive business information.
